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Category : RBI |
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Period for Submission of Agency Commission Claims - RBI
Posted Date : 16-Jun-2017 , 08:36:14 am | Posted By: CASANSAAR
RBI/2016-17/322
DGBA.GBD.No.3262/31.02.007/2016-17
June 15, 2017
All Agency Banks
Dear Sir
Period for Submission of Agency Commission Claims
Please refer to circular No.DGBA.GAD.1031/31.12.010/98-99 dated May 6, 1999 wherein all agency banks were advised to submit their eligible agency commission claims to the Reserve Bank of India within two quarters from the end of the quarter during which the transactions have been conducted.
2. On a review, it has now been decided to reduc...
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Prudential Guidelines on Capital Adequacy and Market Discipline- New Capital Adequacy Framework (NCAF) - Eligible Credit Rating Agencies – INFOMERICS Valuation and Rating Pvt Ltd. (INFOMERICS)
Posted Date : 14-Jun-2017 , 04:30:47 pm | Posted By: Md Irsad Alam
Please refer to theMaster Circular DBR.No.BP.BC.4./21.06.001/2015-16 dated July 1, 2015on 'Prudential Guidelines on Capital Adequacy and Market Discipline - New Capital Adequacy Framework (NCAF)'.
2. In terms of para 6 of the circular, six domestic credit rating agencies viz. CARE, CRISIL, FITCH India, ICRA, Brickwork Ratings and SMERA have been accredited for the purpose of risk weighting the banks' claims for capital adequacy purposes. The long term and short term ratings issued by these dome...
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Aligning roadmap for unbanked villages having population more than 5000 with revised guidelines on Branch Authorisation Policy
Posted Date : 09-Jun-2017 , 09:22:40 am | Posted By: CASANSAAR
RBI/2016-17/320
FIDD.CO.LBS.BC.No 31/02.01.001/2016-17
June 8, 2017
The Chairman and Managing Director/ Chief Executive Officer
SLBC Convenor Banks
Dear Sir,
Aligning roadmap for unbanked villages having population more than 5000 with revised guidelines on Branch Authorisation Policy
Please refer to thecircular FIDD.CO.LBS.BC.No.82/02.01.001/2015-16 dated December 31, 2015wherein SLBCs were advised to identify villages with population above 5000 without a bank branch of a schedu...
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Recording of PPO Number in the passbook of Pensioners / Family Pensioners
Posted Date : 09-Jun-2017 , 09:21:54 am | Posted By: CASANSAAR
RBI/2016-17/319
DGBA.GBD.No.3235/45.01.001/2016-17
June 8, 2017
All Agency Banks
Dear Sir / Madam
Recording of PPO Number in the passbook of Pensioners / Family Pensioners
As you are aware, it has been decided to record the PPO number in all the pension passbooks of the pensioners/family pensioners issued to them. This is to alleviate the difficulties reported by pensioners/family pensioners to get ...
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Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)
Posted Date : 07-Jun-2017 , 05:02:52 pm | Posted By: Md Irsad Alam
Please refer to ourcircular DBR.No.Ret.BC.64/12.01.001/2015-16 dated December 10, 2015, on maintenance of Statutory Liquidity Ratio under Section 24 and Section 56 of the Banking Regulation Act, 1949.
2. As announced in theSecond Bi-Monthly Monetary Policy Statement 2017-18of the Reserve Bank of India today, it has been decided to reduce the Statutory Liquidity Ratio (SLR) of commercial banks, primary (urban) co-operative banks (UCBs), state co-operative banks and central co-operative banks fro...
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Individual Housing Loans: Rationalisation of Risk-Weights and Loan to Value (LTV) Ratios
Posted Date : 07-Jun-2017 , 05:01:05 pm | Posted By: Md Irsad Alam
Please refer to theSecond Bi-monthly Monetary Policy Statement for 2017-18, announced today.
2. As a countercyclical measure, the LTV ratios, risk weights and standard asset provisioning rate for individual housing loanssanctioned on or after the date of this circularshall be as under:
Outstanding loan
LTV ratio (%)
Risk Weight (%)
Standard Asset Provision (%)
Up to Rs.30 lakh
<80
35
0.25
> 80 and<90
50
Above Rs.30 lakh and up to Rs.75 lakh
<80
35
...
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Issuance of Rupee denominated bonds overseas
Posted Date : 07-Jun-2017 , 05:00:00 pm | Posted By: Md Irsad Alam
Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to Sr. No. 3, 4 and 5 of Annex toA.P.(DIR Series) Circular No.17 dated September 29, 2015, paragraph No. 2, 3, 4 and 5 ofA.P. (DIR Series) Circular No. 60 dated April 13, 2016, paragraph No. 2 ofA.P. (DIR Series) Circular No. 31 dated February 16, 2017andparagraph No. 3.2,3.3.1,3.3.3and3.3.4of Master Direction No.5 dated January 1, 2016 on ‘External Commercial Borrowings, Trade Credit, Borrowing and Lending in F...
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Introduction of Legal Entity Identifier for OTC derivatives markets
Posted Date : 02-Jun-2017 , 07:13:41 am | Posted By: CASANSAAR
RBI/2016-17/314
FMRD.FMID No.14/11.01.007/2016-17
June 01, 2017
To
All eligible participants in the OTC derivatives markets
Dear Sir/Madam
Introduction of Legal Entity Identifier for OTC derivatives markets
The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned to entities who a...
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Submission of Annual Information Return relating to issue of Bonds for ₹ 5 lakh or more under Section 285 BA of Income Tax Act, 1961-Change thereof
Posted Date : 31-May-2017 , 10:59:01 am | Posted By: Md Irsad Alam
A reference is invited to ourcircular IDMD.CDD.No. 3031/13.01.299/2016-17 dated May 25, 2017on the captioned subject.
2. It is observed that a few Agency banks were submitting Annual Information Returns (AIR, now changed to SFT) in respect of Savings Bonds to Income Tax Authorities as well as to RBI. As RBI too, consolidates and submits this information to IT Department, and in order to avoid the duplication of data relating to Savings Bonds, Agency banks/SHCIL may henceforth ensure that the re...
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Continuation of Interest Subvention Scheme for short-term crop loans on interim basis during the year 2017-18 - regarding
Posted Date : 25-May-2017 , 08:15:19 pm | Posted By: Md Irsad Alam
Please refer to ourCircular FIDD. CO. FSD. BC. No 9/05.02.001/2016-17 dated August 4, 2016on Interest Subvention Scheme for Short-term Crop Loans 2016-17 wherein we had advised the continuation and implementation of the Interest Subvention Scheme for the year 2016-17. As regards the Scheme for the year 2017-18, Ministry of Agriculture & Farmers Welfare, Government of India (GoI) has informed that they have initiated the process for continuation of the Interest Subvention Scheme.
2. In view ...
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Submission of Annual Information Return relating to issue of Bonds for ₹ 5 lakh or more under Section 285 BA of Income Tax Act, 1961 - Change thereof
Posted Date : 25-May-2017 , 08:13:59 pm | Posted By: Md Irsad Alam
Pleaserefer to letter DGBA.CDD.13.01.299/H – 739 – 768/2005-06 dated August 5, 2005on the captioned subject.
2. You have been authorized to issue Savings Bonds Notified by the Government of India on behalf of Reserve Bank of India. In this connection, you may be aware that the offices accepting deposits under these schemes are required to furnish Annual Information Return as contemplated in Section 285 BA of the Income Tax Act, 1961read with Rule 114E of the Income Tax Rules, 1962 t...
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Formation of new districts in the State of Arunachal Pradesh - Assignment of Lead Bank Responsibility
Posted Date : 25-May-2017 , 08:12:34 pm | Posted By: Md Irsad Alam
The Government of Arunachal Pradesh vide Gazette Notification dated March 3, 2014 had notified the creation of four new districts in the State of Arunachal Pradesh. It has been decided to assign the lead bank responsibility of the new districts to State Bank of India as detailed below:-
Sr No
Newly carved district
Erstwhile District
Administrative units under the newly created district
Lead Bank Responsibility assigned to
District Working Code allotted to new district
1
Kurung ...
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Regulatory requirements for issue of Pre-paid Payment Instruments by Co-operative Banks
Posted Date : 25-May-2017 , 08:10:49 pm | Posted By: Md Irsad Alam
Please refer to ourcircular UBD.CO.BPD.PCB.Cir.No.65/09.69.000/2013-14 dated May 27, 2014permitting the UCBs which have installed ATMs and issued ATM cum Debit cards to introduce semi-closed Prepaid Payment Instruments (PPIs) for payment of utility bills / essential services upto a limit of Rs.10,000/-.
2. The matter has been revisited and it has now been decided to permit all licenced co-operative banks having their own ATM network to issue semi-closed PPIs, provided there are no restrictions ...
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Rationalisation of Branch Authorisation Policy- Revision of Guidelines
Posted Date : 19-May-2017 , 09:13:48 am | Posted By: CASANSAAR
RBI/2016-17/306
DBR.No.BAPD.BC.69/22.01.001/2016-17
May 18, 2017
The Chairman and Managing Director/Chief Executive Officer
All Domestic Scheduled Commercial Banks
(Excluding Regional Rural Banks), Small Finance Banks,
Payment Banks and Local Area Banks
Madam/Dear Sir,
Rationalisation of Branch Authorisation Policy- Revision of Guidelines
Please refer to the paragraph 11 on ‘Banking Outlets – Final Guidelines’ (extract enclosed) of the Statement on Developmen...
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Partial Credit Enhancement to Corporate Bonds - RBI
Posted Date : 19-May-2017 , 09:12:39 am | Posted By: CASANSAAR
RBI/2016-17/305
DBR.No.BP.BC.70/21.04.142/2016-17
May 18, 2017
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Madam/Dear Sir,
Partial Credit Enhancement to Corporate Bonds
Please refer to paragraph 21 (a) of the Guidelines on Partial Credit Enhancement to Corporate Bonds by Banks annexed to thecircular DBR.BP.BC.No.40/21.04.142/2015-16 dated September 24, 2015, on the capital requirements during the lifetime of the bond in respect of which partial credit enhance...
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Minimum qualifications and experience for CFO and CTO - RBI
Posted Date : 19-May-2017 , 09:11:08 am | Posted By: CASANSAAR
RBI/2016-17/304
DBR.Appt.No.BC.68/29.67.001/2016-17
May 18, 2017
All Scheduled Commercial Banks (excluding RRBs)
Madam/ Dear Sir,
Minimum qualifications and experience for CFO and CTO
Rapid innovations in banking and technology call for better risk governance in the areas of finance and technology. A Chief Financial Officer (CFO) and Chief Technology Officer (CTO) in banks’ management structure would play a crucial role in strengthening and sustaining the banks’ risk ...
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RBI allows deposit of demonetised notes confiscated before 30.12.2016
Posted Date : 14-May-2017 , 10:25:34 pm | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 12th May, 2017
G.S.R. 460(E).— In exercise of the powers conferred by sub-section (1) of section 11, read with clause (c) of the proviso to section 5, of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 (2 of 2017), the Central Government hereby makes the following rules, namely:—
1. Short title and commencement.— (1) These rules may be called the Specified Bank Notes (D...
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Submission of Statutory returns (SLR-Form VIII) in XBRL platform
Posted Date : 12-May-2017 , 09:29:56 am | Posted By: CASANSAAR
RBI/2016-17/302
Ref: DBR.CO.No.Ret.BC/66/12.07.144/2016-17
May 11, 2017
The Chairperson
All RRBs
Madam/Dear Sir,
Submission of Statutory returns (SLR-Form VIII) in XBRL platform
It has been decided to move the reporting of SLR from PCRPCD to XBRL (Extensible Business Reporting Language) platform. You are therefore advised to submit the returns (Form VIII) in XBRL from the month of April 2017.
Yours faithfully,
(S K Kar)
Chief General Manager...
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National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals
Posted Date : 09-May-2017 , 10:14:22 am | Posted By: CASANSAAR
RBI/2016-17/300
DPSS (CO) EPPD No.2612/04.03.01/2016-17
May 08, 2017
The Chairman and Managing Director / Chief Executive Officer
of member banks participating in NEFT
Madam / Sir,
National Electronic Funds Transfer (NEFT) system – Settlement at half-hourly intervals
National Electronic Funds Transfer (NEFT) system presently settles the fund transfer requests of the participating banks on net basis at hourly intervals from 8:00 am to 7:00 pm on all working days. All partic...
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RBI |
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Timelines for Stressed Assets Resolution - RBI
Posted Date : 06-May-2017 , 09:15:52 pm | Posted By: CASANSAAR
RBI/2016-17/299
DBR.BP.BC.No.67/21.04.048/2016-17
May 5, 2017
The Chairman and Managing Director/Chief Executive Officer
All Scheduled Commercial Banks
(Excluding Local Area Banks and Regional Rural Banks)
Madam/Dear Sir,
Timelines for Stressed Assets Resolution
Please refer to thecircular DBOD.BP.BC.No.97/21.04.132/2013-14 dated February 26, 2014on “Framework for Revitalising Distressed Assets in the Economy – Guidelines on Joint Lenders’ Forum (JLF) and Corr...
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Risk Management Systems – Role of the Chief Risk Officer (CRO)
Posted Date : 28-Apr-2017 , 08:47:42 am | Posted By: CASANSAAR
RBI/2016-17/294
DBR.BP.BC.No.65/21.04.103/2016-17
April 27, 2017
The Chairman and Managing Director/Chief Executive Officer
All Scheduled Commercial Banks
(Excluding Local Area Banks and Regional Rural Banks)
And
Small Finance Banks
Madam/Dear Sir,
Risk Management Systems – Role of the Chief Risk Officer (CRO)
Please refer to the guidelines on Risk Management Systems issued vide our circular DBOD.No.BP.(SC).BC.98/21.04.103/99 dated October 7, 1999 and the Guidance Notes...
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Sovereign Gold Bonds 2017-18 – Series I
Posted Date : 21-Apr-2017 , 08:30:36 am | Posted By: CASANSAAR
RBI/2016-17/289
IDMD.CDD.No.2760/14.04.050/2016-17
April 20, 2017
The Chairman & Managing Director
All Scheduled Commercial Banks,
(Excluding RRBs)
Designated Post Offices
Stock Holding Corporation of India Ltd. (SHCIL)
National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd.
Dear Sir/Madam,
Sovereign Gold Bonds 2017-18 – Series I
Government of India has vide its Notification F.No. 4(8)-(W&M)/2017 dated April 20, 2017announced that the Sovereign G...
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Compliance with Ghosh Committee Recommendations - RBI
Posted Date : 21-Apr-2017 , 08:28:55 am | Posted By: CASANSAAR
RBI/2016-17/284
Ref. DBS.CO.PPD.BC.No.9/11.01.005/2016-17
April 20, 2017
The Chairman/Chief Executive
All Scheduled Commercial Banks (Excluding RRBs)
Madam/Dear Sir,
Compliance with Ghosh Committee Recommendations
We invite attention to ourcircular DBS.CO.PPD.BC.No.10/11.01.005/2015-16; dated April 28, 2016, in terms of which banks have been advised that the compliance to the Jilani Committee recommendations need not be reported to the Audit Committee of the Board (ACB).
2. A...
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Disclosure in the “Notes to Accounts” to the Financial Statements
Posted Date : 20-Apr-2017 , 09:02:15 am | Posted By: CASANSAAR
RBI/2016-17/283
DBR.BP.BC.No.63/21.04.018/2016-17
April 18, 2017
All Commercial Banks
(Excluding Regional Rural Banks)
Madam/Dear Sir,
Disclosure in the “Notes to Accounts” to the Financial Statements- Divergence in the asset classification and provisioning
Please refer to paragraph 22 of the Fourth Bi-monthly Monetary Policy Statement, 2015-16 announced on September 29, 2015 on the captioned subject (extract enclosed).
2. The Reserve Bank of India (RBI) assesses ...
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Additional Provisions For Standard Advances At Higher Than The Prescribed Rates
Posted Date : 20-Apr-2017 , 09:01:11 am | Posted By: CASANSAAR
RBI/2016-17/282
DBR.No.BP.BC.64/21.04.048/2016-17
April 18, 2017
All Scheduled Commercial Banks
(Excluding Regional Rural Banks)
Madam/Dear Sir,
Additional Provisions For Standard Advances At
Higher Than The Prescribed Rates
Please refer to paragraph 5 of theMaster Circular - Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2015.
2. It is advised that the provisioning rates prescribed in the abovementioned cir...
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Guidelines on compliance with Accounting Standard (AS) 11 by banks - Clarification
Posted Date : 20-Apr-2017 , 09:00:06 am | Posted By: CASANSAAR
RBI/2016-17/281
DBR.BP.BC.No.61/21.04.018/2016-17
April 18, 2017
All Scheduled Commercial Banks
(excluding Regional Rural Banks)
Madam / Dear Sir,
Guidelines on compliance with Accounting Standard (AS) 11 [The Effects of Changes in Foreign Exchange Rates] by banks - Clarification
Please refer tocirculars DBOD.No.BP.BC.76/21.04.018/2004-05 dated March 15, 2005andDBOD.BP.BC.No.76/21.04.018/2005-06 dated April 05, 2006on the captioned subject.
2. It has been observed that banks ...
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Prudential Guidelines – Banks’ investment in units of REITs and InvITs
Posted Date : 20-Apr-2017 , 08:58:59 am | Posted By: CASANSAAR
RBI/2016-17/280
DBR.No.FSD.BC.62/24.01.040/2016-17
April 18, 2017
All Scheduled Commercial Banks
(excluding RRBs)
Dear Sir/ Madam,
Prudential Guidelines – Banks’ investment in units of REITs and InvITs
Please refer to the paragraph 12 of the Statement on Developmental and Regulatory Policies (extract enclosed) issued by RBI on April 06, 2017. As indicated therein, it has been decided to allow banks to participate in Real Estate Investment Trusts (REITs) and Infrastru...
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Revised Prompt Corrective Action (PCA) framework for banks
Posted Date : 13-Apr-2017 , 09:09:51 pm | Posted By: Md Irsad Alam
Please refer to RBI circulars No. DBS.CO.PP.BC.9/11.01.005/2002-03 dated December 21, 2002 and DBS.CO.PP.BC.13/11.01.005/2003-04 dated June 15, 2004 on the scheme of Prompt Corrective Action.
2. The existing PCA framework for banks has since been reviewed and revised. The salient features are provided in the Annex. 3. The provisions of the revised PCA framework will be effective from April 1, 2017 based on the financials of the banks for the year ended March 31, 2017. The framework would be rev...
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Financial Literacy Week
Posted Date : 13-Apr-2017 , 09:06:30 pm | Posted By: Md Irsad Alam
To emphasize the importance of financial literacy, it has been decided to observe the week June 5-9, 2017 as Financial Literacy Week across the country.
2. The literacy week will focus on four broad themes, viz.KYC,Exercising Credit Discipline,Grievance Redressaland Going Digital (UPIand*99#). The five messages that will be communicated to the common man based on the above broad themes are available under "Financial Literacy Week" in the downloads section of thefinancial education webpage of RB...
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Security Substitution Facility for term repos conducted by Reserve Bank of India under the Liquidity Adjustment Facility
Posted Date : 13-Apr-2017 , 09:04:26 pm | Posted By: Md Irsad Alam
As announced in theFirst Bi-monthly Monetary Policy Statement for 2017-18, it has been decided to allow substitution of collateral (security) by the market participants during the tenor of the term repos conducted by Reserve Bank of India under the Liquidity Adjustment Facility, from April 17, 2017.
2. The securities offered for substitution by the market participants shall be of similar market value based on the latest prices published by the Fixed Income Money Market and Derivatives Associati...
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